I am not sure what you mean by PowerPC v2. But there is more than one interrupt handling theme on PowerPC.
Some (like the e200 cores) use hardware vectoring but can be switched back to SW mode.
The e300/e500 cores do only SW interrupt handling.

IMHO HW vectoring pays off only if one does use not any kind of (RT)OS.

Anyway, besides the peripheral interrupts, there are always the exceptions.